S.L. 403.8 ст. 17of the regulations paragraph 5 and units of UCITS 9 or 10 of either income from, or from, property Schedule; or of Part I of the property linked of Part I of the to Directive centum of the of Part I of the are payable has which apply to undertaking; of this Schedule than financial Part I of this 2(1

Benefits payable under any contract to which regulation 3 applies shall not be determined by reference to:

(a) property of any of the descriptions specified in paragraph 8 of Part I of the Schedule other than authorised according to Directive 2009/65/EC, or paragraphs Part I of the Schedule, if the value of such property is determined, wholly or partly, by reference to the value of, or the fluctuations in the value of, or fluctuations in the income other than property of the descriptions in Part I of this

(b) property of the description specified in paragraph 5 Schedule in excess of 10 per centum of the aggregate benefits under the contract; or

(c) property of the description specified in paragraph 8 Schedule other than units of UCITS authorised according 2009/65/EC, which in aggregate value exceeds 10 per property linked benefits, unless the contract; or

(d) property of the description specified in paragraph 8 Schedule where the contract under which the benefits been marketed in accordance with any legal restrictions the marketing of the corresponding collective investment or

(e) property of any of the descriptions specified in Part I which has the effect of a derivative instrument other derivative instruments specified in paragraph 12 of Schedule. of Directive 2009/65/EC.